Advice needed on buying an apartment in the Arona area

[elminto900]

Hi we have been holidaying in tenerife for many years,could someone give some advice
on the costs of running a property and is it doable? we would use it and hopefully rent the times we arnt there,any advice would be great thanks.Jamie

[kathml]

Unless it's a tourist complex no short term letting allowed at present heavy fines apply so minimum rental period 3 / 6 months read through forum

[lynnangela]

We are long term renting on a resort on Golf del Sur, but there is an agent on site that is licenced to do short term holiday lets for owners as well (it is designated touristic). Its a beautiful resort with lovely pools and a couple of good restaurants/bars. There are approx. 150 villas and apartments of which 50% approx. are timeshare, the rest being wholey privately owned. This is a great combination as the site has to be kept up to a very high standard due to the timeshare element, however fees for the private owners (as I understand it) are around €2500 - €3000 per year. Personally I don't think this is too bad considering how good this site is. There are several properties for sale here ranging from €140k to €230k. If you would like some more info please pm me and ill put you in touch with the onsite agents.

I realise this is not the area you are specifically looking for, but it may give you something of an indication of what to expect, and there is no harm in looking.

[junglejim]

There is a full Illegal Lettings thread that contains lots of information,and misinformation ,on letting laws and costs .
A "Dormant Poster" Loaded who is a sole agent at Paloma Beach gave a rough breakdown last year ,I think,on costs of owning and renting via his agency .
If I remember , depending on how many weeks you allocate to letting (legally) with him,you could get an income after charges and taxes of somewhere around €160per week for a 1 bed apt.
You can expect community fees of €2000-€3000 pa plus local rates around € 350 pa as a guide .
Other Sole Agencies charge differently so make sure you know before you commit to a purchase !